Gold Price Jumps to Record Highs | Experts Says Can Increase in Future | HYBIZ NEWS

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Gold Prices touches all time highs with crossing 56k mark in the Country.GOLD a precious metal which Throughout history, gold was the ultimate symbol of man’s power and authority, and a concrete testament to a person’s high standing in society. Gold has such a powerful influence over humanity that it changed the face of the world forever.
#GoldRate #GoldPrice #GoldPriceToday
India is one the world’s largest consumers of gold, and the metal plays a special role in the country. The Indian wedding season is famous for fueling demand for gold jewelry, but the jewelry is not simply for aesthetic purposes.

People believe that it is an important part of a diversified investment portfolio because its price increases in response to events that cause the value of paper investments, such as stocks and bonds, to decline. Although the price of gold can be volatile in the short term, it has always maintained its value over the long term.

The price of Gold is affected by many international factors including inflation, change in global prices, central bank gold reserve, fluctuating rates of interest, jewellry markets.

In global markets, gold has rallied more than 35% this year as the coronavirus crisis, low real rates, a weaker dollar and geopolitical risks have sparked a flight to precious metals.
Price of gold in India since last 7 days increased to a all time hike,
the price of 10 grams of 24 Karat Gold
On August 1st was 53450/-
And today after stock market closed the price is 56050/-

The price 10 grams of 22 karat Gold on August 1 st was 52250/-
And today after the stock market closed the price is 54750/-

Many gold analysts have now revised their price targets saying that prices could go up to Rs 65,000 per 10 grams in the next 18-24 months.

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